But we will engage with the NY AG as this is a clear case of mixing up the letter’s recipients. Nexo is not offering its Earn Product & Exchange in New York, so it makes little sense to be receiving a C&D for something we are not offering in NY anyway. As such, the services of Celsius Network and Nexo can be associated with unregistered securities trading.Īlongside with that, the representatives of Nexo crypto lending platform stressed that these announcements by regulators are actually nothing-burgers as: New York Attorney General Letitia James has ordered two major multi-purpose cryptocurrency platforms, Nexo and Celsius Network, to shut down their operations in the state of New York.Īccording to the order published by New York Attorney General (NYAG) office, the cryptocurrencies available on the platforms should be regulated as securities. Two crypto lending platforms should leave NY: Attorney General Yet again China failed to ruin the bitcoin mining industry. Why is this adjustment crucial? As the Bitcoin network returns to pre-exodus levels, we can be sure that the lion’s share of Bitcoin miners successfully migrated to new safe havens. Therefore, local miners were forced to move their rigs outside the country, to the U.S., Kazakhstan, and the Russian Federation. As such, it is back above 20T for the first time since China intensified its crackdown in crypto.Īs covered by GetBlock previously, Chinese authorities banned all cryptocurrency transfers and Bitcoin mining in Q2-Q3, 2021. 18, 2021, Bitcoin (BTC) network difficulty increased by 0.53%. Otherwise, when Bitcoin miners are shutting down their rigs, Bitcoin network difficulty decreases. Thus, if too many miners are interested in joining the Bitcoin network, its mining difficulty increases. At any time, a Bitcoin block should be mined for 10 minutes.
Bitcoin difficulty in green for four months in a rowīitcoin network difficulty is a metric that displays how it is difficult to add one new block to the first blockchain.It is adjusted fortnightly to ensure the block time stability of the flagship cryptocurrency. authorities issue another ‘cease-and-desist’ order to cryptocurrency services.
Bitcoin network now fully recovered from Chinese anti-miners witch-hunt.īitcoin difficulty is back above 20T while the N.Y.